Regulatory Alerts2024-09-06 | TED/FEM/PUB/FPC/001/026Sales of Foreign Exchange to BDCs to meet Retail Market Demand for Eligible Invisible Transactions
The Central Bank of Nigeria (CBN) has authorized the sale of $20,000 each to eligible Bureau De Change (BDC) operators at a rate of N1,580/$, aiming to meet demand for invisible transactions. BDCs are permitted to sell at a margin up to 1% above their CBN purchase rates. Interested parties must submit payment confirmation and necessary documents to designated branches in Abuja, Awka, Kano, and Lagos for disbursement.